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26 Cards in this Set
- Front
- Back
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Assets |
Anything of value that is owned |
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Budget |
A list of planned expenses and revenues |
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Financial Plan |
An orderly program for spending, saving, and investing the money you earn to achieve desired goals. |
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Fixed Expense |
Expenses that remain the same from period to period |
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Income |
Money coming in through wages earned, allowance, or other sources. |
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Liabilities |
Anything that is owed (debt) |
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Net Worth |
Assets minus liabilities |
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Revenue |
Income received from normal business activities. |
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Spending Plan |
A plan for spending and saving money based on a person's goals during a given time |
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Variable Expenses |
Expenses that change from one period to the next |
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Wealth |
Abundance of valuable resources or valuable material possessions |
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Automated Teller Machine/ATM |
Provides banking customers with access to financial transactions n a public space without the need for a bank teller. |
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Bank Endorsement |
Only includes the signature of the payee on the back of the check. |
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Canceled Check |
A check that has the bank's stamp, indicting it has cleared or gone through the financial system. |
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Check |
A written order to a bank to pay the stated amount to a person or business named on the check.
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Check 21 |
When a check is electronically transferred and funds are immediately withdrawn from the account. Similar to a debit card. |
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Checkbook Register |
A booklet used to record checking account transactions. |
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Credit Union |
A financial institution that provides financial products and services to its members. Lower rates of borrowing and higher rates on investing. |
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Debit Card |
Enables an individual to withdraw cash from an ATM or to pay directly for goods or services at stores and restaurants. |
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Endorsement |
A signature or statement on the back of the check that gives the financial institution authorization to cash/deposit the check. |
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Interest Rate |
The price the borrower pays a creditor for the use of money over a period of time. |
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Outstanding Check |
Those checks issued by a depositor but not yet reported on a bank statement. |
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Overdraft |
A check written for more money that your account holds. |
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Reconciliation |
The process of matching your checkbook register with the bank statement each month. |
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Restrictive Endorement |
An endorsement that limits further negotiating of the check. |
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Special Endorsement |
An endorsement that limits the transfer of the check to a particular person. |
